Mirae Asset Global Investments Co. Ltd. Makes New Investment in Nutanix $NTNX

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Nutanix (NASDAQ:NTNX) during the 3rd quarter, HoldingsChannel reports. The firm acquired 47,667 shares of the technology company’s stock, valued at approximately $3,356,000.

A number of other hedge funds have also recently bought and sold shares of the company. CX Institutional raised its holdings in shares of Nutanix by 134.6% in the second quarter. CX Institutional now owns 488 shares of the technology company’s stock valued at $25,000 after purchasing an additional 280 shares during the last quarter. Western Wealth Management LLC purchased a new position in Nutanix during the first quarter worth about $27,000. Parkside Financial Bank & Trust grew its position in Nutanix by 43.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock worth $29,000 after purchasing an additional 176 shares in the last quarter. Frazier Financial Advisors LLC grew its position in Nutanix by 1,063.8% in the 1st quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in Nutanix by 28.6% in the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Performance

NTNX stock traded down $0.18 during midday trading on Friday, reaching $58.37. 2,438,665 shares of the company’s stock traded hands, compared to its average volume of 2,375,651. The firm has a market capitalization of $15.79 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 3.19 and a beta of 0.72. The company has a 50-day moving average price of $68.99 and a two-hundred day moving average price of $52.87. Nutanix has a 52 week low of $34.01 and a 52 week high of $75.98. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.80 and a current ratio of 1.80.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%. The company had revenue of $757.08 million during the quarter, compared to analysts’ expectations of $738.27 million. During the same period in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Nutanix will post 1.17 EPS for the current year.

Insiders Place Their Bets

In related news, Director Teresa Sheppard sold 3,500 shares of the company’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $73.67, for a total value of $257,845.00. Following the completion of the transaction, the director directly owned 23,488 shares in the company, valued at approximately $1,730,360.96. The trade was a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 324,955 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the transaction, the chief executive officer owned 489,384 shares in the company, valued at approximately $36,003,980.88. The trade was a 39.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 674,351 shares of company stock worth $49,736,524 in the last quarter. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer upped their target price on Nutanix from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Needham & Company LLC began coverage on Nutanix in a research report on Monday, September 28th. They set a “buy” rating and a $90.00 target price for the company. Northland Securities set a $70.00 target price on Nutanix in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their price target on shares of Nutanix from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Finally, Wells Fargo & Company increased their price target on shares of Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $74.87.

About Nutanix

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company’s offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.